Usually from the day a person is born they are given a name that is used for identity purposes, in order to differentiate and recognize that specific individual. Similarly, brands and companies need to be named in a fashion that will work as an identity marker for their specific goods and/or services. Unlike people’s names, business brands usually cannot legally co-exist under the same or similar name if they are within the same or similar industry.Therefore, obtaining a trademark early on in a business venture is ideal because it can save the entrepreneur a lot of money, headaches and time.
One might ask how cana trademark save money for a business? Well the answer is very simple. If you start using a brand name or logo for your goods and/or services and have not conducted a trademark search and/or filed to register your mark with the United States Patent and Trademark Office (“USPTO”), you’re taking a huge risk. This risk includes (a) someone else is using the same or similar name, which is trademarked, within the same industry and therefore, your mark would be denied registration by the USPTO if or when you apply, (b) someone else is using the same or similar name within the same industry and therefore, some or all of your marketing efforts will be directed towards the other person’s brand/company (c) someone else is using the same or similar name, which is trademarked, within the same industry and therefore, you will need to re-brand in the future if the other company finds out that you are using a similar mark (d) someone else is using the same or similar name, which is trademarked, within the same industry and therefore, they can sue you for damages OR (e) someone else starts using a similar brand name after you start using yours and files to register their mark with the USPTO before you do and as a result, most likely you will need to file an opposition with the USPTO to get rid of this pending or registered mark. This process is costly and can take a lot of time. Hence, if you don’t do your due diligence and file to register your mark with the USPTO, there is a high chance one of the foregoing dilemmas will arise and you will be forced to spend more money than what you would have spent if you filed to register your mark early on in your business venture.
Also, one must always remember that time is money. It takes about eight months to obtain a trademark if no issues arise during the trademarking process. However, this time period may be extended drastically if the examining attorney finds an issue with your application or another trademark owner opposes your mark from being registered. Thus, any business owner can understand that if they file for a mark early on and something goes wrong the loss will not be as grave to their company asif something was to go wrong years down the line when they have expended large amounts of revenue into growing their brand. Thus, waiting to file for a trademark after the brand has been established is a bad idea.
In conclusion, an entrepreneur shall alwaysremember that the risks associated with not obtaining trademarks at the onset of launching their company or brands, can potentially be detrimental to their business.